Rackspace Tech Q1 2024 Adj EPS $(0.11) Beats $(0.13) Estimate, Sales $691.000M Beat $684.252M Estimate
Portfolio Pulse from Benzinga Newsdesk
Rackspace Tech (RXT) reported Q1 2024 adjusted EPS of $(0.11), surpassing the $(0.13) estimate, with sales of $691M beating the $684.252M forecast. This represents an 8.92% decrease in sales compared to the same period last year.
May 09, 2024 | 8:20 pm
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Rackspace Tech reported a smaller loss than expected and higher sales for Q1 2024, indicating a potential positive short-term impact on its stock.
Beating both EPS and sales estimates typically generates positive investor sentiment, potentially leading to a short-term increase in stock price. However, the year-over-year decrease in sales might temper some of the optimism.
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